What ways could dealers be more transparent, IDEAS anyone?
- Thread starter Jeff Kershner
- Start date
To summarize my take on this:
We need to build trust, but transparency in price is not required. There are many ways to build trust with a customer, but it's critical. Many of the studies showing that millennials like peer reviews, etc are all based on the idea of trust - this isn't a new concept.
We need to build trust, but transparency in price is not required. There are many ways to build trust with a customer, but it's critical. Many of the studies showing that millennials like peer reviews, etc are all based on the idea of trust - this isn't a new concept.
I think building credibility in your price is crucial, but your cost is nobody's business. Trust is nice, but not necessary to complete a transaction.
I disagree. If someone is completing a $20,000+ transaction there needs to be trust. If they don't trust it's going to hurt everywhere from transaction day right down to retention and re-entering the purchase cycle.
This conversation is headed right towards parts of my NADA 20-Group meeting presentation and Digital Dealer breakout.
Inventory/selection is the biggest factor. If you don't have what the shopper wants, they won't buy from you regardless of your trust or pricing.
Pricing, Trust, and Convenience are the highest secondary factors. If you and another dealer have same vehicle, in some cases trust will trump price and convenience. Other scenarios price trumps all.
Inventory/selection is the biggest factor. If you don't have what the shopper wants, they won't buy from you regardless of your trust or pricing.
Pricing, Trust, and Convenience are the highest secondary factors. If you and another dealer have same vehicle, in some cases trust will trump price and convenience. Other scenarios price trumps all.
Right or wrong, we are together on this! I actually posted a similar comment about 6 pages ago on this thread.
Trust is a necessity unless on the rare occasion you have a unit listed at a "give away" price.
Trust is the foundation that a car deal is built upon.
If you look in the dictionary, there are a number of definitions for "trust". But I chose to use the word "credibility" rather than trust because when a consumers think or talks about trusting a car dealership, they use the thinnest possible definition, kind of like the Reagan "Trust but Verify" definition. Certainly not the "Blind Faith" definition.
Credibility is all you have to shoot for - and all you need to complete a transaction everyone is happy with.
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I certainly understand your point. I simply disagree.
I will not do business with someone I do not trust. Credibility is a given. Of course I am not going to do business with an idiot that lacks credibility. For me, credibility is not enough. I require trust. I believe my customers do as well.
I understand Clint. As salesmen we have a need to be trusted. Customers don't share that need.
(in my humble opinion)
Actually Ed, I was speaking as a customer. I am shopping DMS and CRM systems right now. To me, it is very similar to what I imagine our customers going through.
Research, research, research. Reading reviews. Some websites suck. Some websites list their subscription rates and seem proud of them. Some say call for a price (which to me means WE ARE REALLY EXPENSIVE). I want to do my own research and gather my own information. I am hesitant to give my contact information because I get 5 calls a day now. The whole thing Ed.
These vendors are all credible. They are all in business because they have a "good" product.
I will end up ultimately doing business with the one that I trust.
I respect your stance, and quite honestly have enough respect for you to simply agree to disagree.
